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The differences between finance service specialists and business bankers can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a finance service specialist and a business banker. Additionally, a business banker has an average salary of $69,423, which is higher than the $40,415 average annual salary of a finance service specialist.
The top three skills for a finance service specialist include excellent interpersonal, mutual funds and customer service. The most important skills for a business banker are customer service, financial products, and financial services.
| Finance Service Specialist | Business Banker | |
| Yearly salary | $40,415 | $69,423 |
| Hourly rate | $19.43 | $33.38 |
| Growth rate | 10% | 10% |
| Number of jobs | 131,509 | 70,054 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 66% |
| Average age | 43 | 43 |
| Years of experience | 4 | 4 |
A financial service specialist is responsible for determining the clients' financial needs by assessing their account profiles and financial performance. Financial service specialists sell insurance services and other financial instruments based on clients' specifications and risk appetite. They also review stock trends and market stability to create financial forecasting and modify investment plans for the clients. A financial service specialist must have excellent communication and analytical skills, especially in discussing options to the clients to achieve their long-term goals and objectives.
A business banker is an individual who collaborates with other bank coworkers to help business customers meet their specific banking needs. Business bankers must sell a variety of banking products and services such as business deposit accounts, treasury management, and business credit cards. They are required to maintain consistent communication with their clients through outbound calls and personal onsite visits. Business bankers must also devise and modify loan schemes depending on the market requirements as well as study the schemes offered by competitors.
Finance service specialists and business bankers have different pay scales, as shown below.
| Finance Service Specialist | Business Banker | |
| Average salary | $40,415 | $69,423 |
| Salary range | Between $27,000 And $60,000 | Between $39,000 And $121,000 |
| Highest paying City | New York, NY | - |
| Highest paying state | New York | - |
| Best paying company | Cravath | - |
| Best paying industry | Real Estate | - |
There are a few differences between a finance service specialist and a business banker in terms of educational background:
| Finance Service Specialist | Business Banker | |
| Most common degree | Bachelor's Degree, 61% | Bachelor's Degree, 66% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance service specialists' and business bankers' demographics:
| Finance Service Specialist | Business Banker | |
| Average age | 43 | 43 |
| Gender ratio | Male, 36.4% Female, 63.6% | Male, 63.3% Female, 36.7% |
| Race ratio | Black or African American, 5.9% Unknown, 4.2% Hispanic or Latino, 12.5% Asian, 10.1% White, 67.2% American Indian and Alaska Native, 0.2% | Black or African American, 5.4% Unknown, 4.1% Hispanic or Latino, 11.1% Asian, 12.1% White, 67.1% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 6% | 6% |